Source - SMW
Dalata Hotel Group said trading in the final four months of the year had been as expected and EBITDA for the year ending 31 Dec would be in line with market expectations. 

The group said the Dublin market had continued to be very strong  in the second half of the year with RevPAR at its hotels now up 9.5% for the year to date as at the end of November. 

And it said RevPAR growth in its regional Ireland portfolio continued to be very strong with an increase of 8.7% for the 11 months to the end of November.

The group also announced that it had entered into agreements to acquire 24 suites (62 bedrooms) in the Clayton Hotel Cardiff Lane for €8.7 million and a further 13 suites (18 bedrooms) in Clayton Hotel Liffey Valley for €2 million. 

It said these transactions would result in Dalata owning 252 out of a total of 304 bedrooms in Clayton Hotel Cardiff Lane, and 261 out of a total of 361 bedrooms in Clayton Hotel Liffey Valley. 

Deputy chief executive - business development an finance - Dermot Crowley said: '2017 has been another very successful year for Dalata in terms of trading at our existing hotels, the acquisition of new hotels and building up a development pipeline in the UK.  

'Our hotel portfolio continues to perform very strongly across the all of our regions. 

'We are very happy to have secured the effective freehold interests of additional rooms at both Clayton Hotel Cardiff Lane and Clayton Hotel Liffey Valley.

'We are delighted to have entered into an agreement to lease a newly constructed Maldron hotel in Glasgow. 

'We have a very strong relationship with McAleer & Rushe who are currently building our new hotels in Belfast, Newcastle and Charlemont, Dublin. 

'Today's announcement brings the number of UK hotels in our development pipeline to 5 with a total of circa 1,350 rooms.

'Given the pipeline of hotels due to open in the next year and the continued strength of trading in our three regions, we look forward to 2018 with confidence.'